Natural Gas Prices Jump as Cold Snap Forecasts Return to Lower Forty Eight

Weather Volatility and Storage

The market had previously priced in a warm winter, but the new Arctic models have forced short-sellers to cover positions. Despite the jump, storage levels remain 4% above the five-year average, providing a significant buffer.

LNG Feedgas Records

Structural demand from LNG export terminals continues to support the floor. As new capacity comes online in 2026, the US is cementing its position as the top global exporter, keeping Henry Hub prices from collapsing during warmer spells.